Two Sigma Investments LP boosted its holdings in shares of Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 483.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,906 shares of the software maker's stock after buying an additional 60,406 shares during the period. Two Sigma Investments LP's holdings in Open Text were worth $2,065,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock valued at $29,000 after purchasing an additional 515 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Open Text by 40.8% in the fourth quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after purchasing an additional 398 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Open Text in the fourth quarter valued at about $60,000. Generali Asset Management SPA SGR purchased a new stake in shares of Open Text in the fourth quarter valued at about $62,000. Finally, Allworth Financial LP raised its holdings in shares of Open Text by 20.7% in the fourth quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock valued at $73,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.
Open Text Price Performance
Open Text stock traded down $0.06 during mid-day trading on Thursday, hitting $28.40. 11,090,790 shares of the company traded hands, compared to its average volume of 904,630. Open Text Co. has a one year low of $22.79 and a one year high of $34.20. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 11.54 and a beta of 1.15. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average price of $26.62 and a 200-day moving average price of $27.59.
Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its quarterly earnings results on Wednesday, April 30th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The business's revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, equities analysts predict that Open Text Co. will post 3.45 earnings per share for the current fiscal year.
Open Text Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's dividend payout ratio (DPR) is presently 42.86%.
Analyst Ratings Changes
OTEX has been the subject of several analyst reports. Scotiabank lowered their target price on shares of Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. Royal Bank of Canada decreased their price objective on shares of Open Text from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Tuesday, April 22nd. UBS Group decreased their price objective on shares of Open Text from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. BMO Capital Markets decreased their price objective on shares of Open Text from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Finally, CIBC decreased their price objective on shares of Open Text from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $32.30.
View Our Latest Stock Analysis on Open Text
Open Text Company Profile
(
Free Report)
Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.
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